Market Research Report
Soybean Oil Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Insight, Impact of COVID-19, Opportunity Company Analysis
|Soybean Oil Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Insight, Impact of COVID-19, Opportunity Company Analysis|
Published: February 1, 2022
Content info: 230 Pages
Delivery time: 1-2 business days
Global Soybean Oil Market is expected to reach US$ 80.48 Billion in 2027. In tandem with soybean oil's relatively low price, Soybean large-scale availability offers an endurable substitution for petrochemicals and comprehended carcinogens in several industrial use cases. In the food industry, soybean oil is consumed in preparing dressings, whipped toppings, sauces, and non-dairy creamers.
On the flip side, in the non-food sector, soybean oil is used for making caulks, resins, animal feed, and biodiesel. In addition, various soybean oil markets now have demonstrated that edible oil has multiple functional properties; as such, it is used in numerous food and non-food applications. According to Renub Research, Worldwide Soybean Industry is anticipated to grow with a CAGR of 4.4% during 2021-2027.
COVID-19 Impact on the Global Soybean Oil Industry:
The global soybean oil market has exhibited moderate growth, even though the demand for biofuel had reduced due to the COVID-19 pandemic. Further, the soybean oil market indicates steady growth, despite the COVID-19 pandemic cut demand for biofuel. The competitive price of soybean oil against the cost for sunflower and palm oil and the potential increase in demand for biofuels and increasingly robust environmental standards signal real prospects for further developing the soybean oil market during the forecasted period.
Global Soybean Oil Market Size was US$ 62.16 Billion in 2021
Consumers have been suffering from health-related issues such as high cholesterol, obesity, and cardiovascular diseases (CVD), including soybean oil in their diet regime, in recent years. Rising health consciousness has exploited consumers to shift from ready-to-eat (RTE) items to homemade products, further bolstering the demand for soybean oil. Soybean oil is relatively cheaper than other edible oils, including canola oil, olive oil, groundnut oil, and coconut oil. Further, soybean oil is commonplace in price-sensitive markets, especially in developing regions.
Worldwide Soybean Oil Consumption and Production Trends:
Soybean oil is amongst the most popular vegetable oil globally, with China driving the top consuming and producing countries. Remarkably, China is the major soybean oil-consuming country, with its main end-use application being for food use. Moreover, the growing population and soybean acreage resulting from the government-led initiatives is further expected to increase soybean oil production in China. Similarly, in the United States, soybean production allows for a moderate rise in domestic consumption. Additionally, the growth of the United States soybean oil industry is likely to slow over the forecasted period, as it is expected to face stronger foreign competition, and the farmers in the region are shifting their acreage into feed grains.
Global Soybean Oil Export Analysis:
In our report, we have analyzed the export market of Argentina, Brazil, the United States, the European Union, Paraguay, Russia, and Bolivia. Globally, the soybean oil export market for Argentina, Brazil, European Union, Russia, and Bolivia is expected to witness a consecutive increase during the forecasted period. The increased soybean supply and tightened supply in the other vegetable oils, mainly the rapeseed oil market, are the major factors driving the export market for the countries, mentioned above.
Competitive Landscape of Global Soybean Oil Market:
The global soybean oil market is converged, with the significant players holding a substantial share in the market. The versatility of soybean oil is anticipated to emerge as an opportunity to attract many manufacturers in the food products industry across the world. In our report, the global soybean oil market consists of several primary and regional players engaged in the soybean oil industry. The major players in the market covered in our report are Kerry Group and Fuji oil company, Archer Daniels Midland, Cargill Foods, CHS Inc, Adam Group, SunOpta Inc., Pulmuone Co. Ltd, House Foods Group Inc., and Bunge Limited.
Renub Research new report titled "Soybean Oil Market & Volume, Global Forecast By Consumption (China, United States, Brazil, India, European Union, Argentina, Bangladesh, Mexico, Others), Production (China, United States, Brazil, Argentina, European Union, India, Mexico and Others), Import (India, China, Algeria, Bangladesh, Morocco, Peru, European Union, South Korea, Columbia, Others), Export (Argentina, Brazil, United States, European Union, Paraguay, Russia, Bolivia, Others), Company Analysis (Kerry Group and Fuji oil company, Archer Daniels Midland, Cargill Foods, CHS Inc, Adam Group, SunOpta Inc., Pulmuone Co. Ltd, House Foods Group Inc., and Bunge Limited)" provides a complete analysis of Worldwide Soybean Industry.
Countries - Market we have covered the market with 9 viewpoints:
Production - Market we have covered the market with 8 viewpoints:
Import - Market we have covered the market with 10 viewpoints:
Export - Market we have covered the market with 8 viewpoints:
Key Players Analysis: